Atika Capital Management LLC decreased its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 49.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,000 shares of the company's stock after selling 35,800 shares during the quarter. Atika Capital Management LLC's holdings in Cloudflare were worth $4,057,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Mather Group LLC. raised its stake in shares of Cloudflare by 1,188.2% during the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after buying an additional 202 shares during the period. NBC Securities Inc. purchased a new stake in Cloudflare in the 1st quarter worth $27,000. GPS Wealth Strategies Group LLC increased its holdings in Cloudflare by 213.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock worth $29,000 after acquiring an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Cloudflare by 115.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after acquiring an additional 142 shares during the period. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in Cloudflare during the fourth quarter valued at $43,000. Hedge funds and other institutional investors own 82.68% of the company's stock.
Insider Activity
In other news, insider Michelle Zatlyn sold 25,642 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $173.00, for a total transaction of $4,436,066.00. Following the completion of the sale, the insider owned 6,390 shares in the company, valued at $1,105,470. This trade represents a 80.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $171.25, for a total value of $8,970,760.00. Following the completion of the transaction, the chief executive officer owned 381,213 shares in the company, valued at $65,282,726.25. This represents a 12.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 588,768 shares of company stock valued at $110,739,060. Company insiders own 10.89% of the company's stock.
Cloudflare Price Performance
NYSE:NET opened at $192.9230 on Thursday. Cloudflare, Inc. has a one year low of $74.88 and a one year high of $219.00. The stock has a market cap of $67.23 billion, a PE ratio of -567.42 and a beta of 1.84. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14. The stock has a 50 day moving average price of $192.82 and a 200 day moving average price of $155.96.
Cloudflare (NYSE:NET - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The company had revenue of $512.32 million during the quarter, compared to analysts' expectations of $501.58 million. During the same period in the prior year, the business earned $0.20 EPS. The firm's quarterly revenue was up 27.8% on a year-over-year basis. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. Equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently commented on the stock. DZ Bank reissued a "sell" rating and set a $170.00 target price on shares of Cloudflare in a research note on Tuesday, July 22nd. Jefferies Financial Group lowered their price objective on Cloudflare from $170.00 to $150.00 and set a "hold" rating on the stock in a report on Friday, May 9th. UBS Group increased their target price on Cloudflare from $145.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. CICC Research raised Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price target on the stock in a research note on Monday, May 12th. Finally, Cowen reiterated a "buy" rating on shares of Cloudflare in a research report on Monday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $191.28.
View Our Latest Research Report on NET
About Cloudflare
(
Free Report)
Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.
See Also
Want to see what other hedge funds are holding NET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cloudflare, Inc. (NYSE:NET - Free Report).
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